It's easy with ChaseCapitalOnline: Forex account types, what to choose?

Barry Copeland 06 / January / 22 Visitors: 559 ★★★★★

There can be many nuances, but don't worry, our ChaseCapitalOnline.com specialists are ready to help.

You can register with a broker such as ChaseCapitalOnline broker to get started on your trading journey, but before you start trading, check out what the experts give you.

ChaseCapitalOnline Forex: Demo account

All good brokers like ChaseCapitalOnline forex broker allow clients to choose from a variety of options. One of these opportunities is the ability to open a demo account.

All brokers, without exception, have a demo account or, in other words, a training account. On this type of account, trading is carried out with virtual money, this is its main difference from other accounts. The demo is primarily intended for beginners. This account allows you to get to know the terminal without losing your money, to understand how to work with orders and positions. In general, get the minimum experience that is necessary for further successful work in the market. You can also test new trading strategies on the demo. If during the test it turns out that the strategy is unprofitable and during this time the deposit will decrease by half - not that terrible, because the money is virtual. We open a new demo account and test a new strategy.

ChaseCapitalOnline Forex broker: Cent accounts

If you are a beginner and have gained enough experience with a demo, you should not immediately open an account for a serious amount. After all, a demo account has one drawback - you traded with virtual money. When trading virtual money, you do not experience those emotions that arise with real profits or losses. And you don't know how it might affect your trading. Therefore, after the demo, it is recommended to switch to cent. The balance of a cent account is calculated in cents, so the minimum deposit for opening an account is only $ 1-10. At the same time, the cost of a point per lot will also be calculated in cents, which allows you to trade without violating money management even at $ 10.

Cent accounts are also used by experienced traders who use the Martingale method in their strategy. After all, the starting lot here is much less than that of a standard account. You do not need a large deposit to withstand large drawdowns, which are often the case with aggressive averaging of losses. As with the demo, on this type of account, some traders test their trading robots in real money conditions.

ChaseCapitalOnline Forex: Standard or classic accounts

The standard account (standart, classic), as already mentioned, is the most common type of account. The minimum possible lot for this account is 0.01, it is possible to both place orders instantly and use pending orders of all four types of Stop-Loss, Take-Profit, Sell-Stop, Buy-Stop.

In most cases, these accounts are charged with a constant level of spread.

This is not always beneficial, but its simplicity and clarity makes it easy to calculate the price target when trading.

The speed of order execution is not a priority quality of this type of account, therefore, with significant market movements, delays in order execution are possible. Therefore, a standard account is suitable for non-aggressive and long-term trading.

ChaseCapitalOnline broker: Use margin or not

As ChaseCapitalOnline.com specialists explained, after opening a forex account, traders will have to decide whether to use the margin or not. This is an important consideration as the introduction of margin increases risk significantly. Margin can be thought of as a loan of funds from a broker to a trader so that the trader can “use” or effectively multiply the amount of capital available to make a trade.

ChaseCapitalOnline Forex broker: ECN account

In ECN accounts, in contrast to the classic one, all transactions are brought to the real market. Here the broker cannot be a counterparty, and therefore the interests of the broker and the client do not conflict. It is beneficial for a broker to make his clients earn. To work on such accounts, you will need a good start-up capital, on average, the minimum deposit is $ 500, and for some it can reach $ 1000 or more.

A distinctive feature of this account is the small, floating spreads and commissions for transactions. There are practically no requotes, but with an increase in market activity there is slippage and an increase in the spread. It should be borne in mind that stop loss and take profit can be set only after opening a deal.

ChaseCapitalOnline Forex broker: Which account to choose

So, we've covered all types of accounts, which account should you choose?

If you are a beginner and have not yet figured out how to work with orders and the terminal, choose a demo account. Having dealt with this, we get used to working with our emotions, we go to a real account - a cent.

To understand where to go next, you need to develop your own trading strategy. If the strategy is scalping, we choose ECN, because it is important for us that orders are executed quickly and there are minimal costs. If there are not many deals and they will be in the market for a long time, then you can choose the standard one.

Barry Copeland

In 2003, Barry Copeland received a degree in Journalism from the University of Sheffield. He is a sophisticated financial journalist with more than 10 years of experience in the monetary business and the media.Also collaborates with top managers to consider expenses through financial research. His goal is to become a community-level organization consultant, so he plans to continue his training

Comments (12)

Butler Robert

15.01.2022

Very affordable initial deposit and trading tools to choose from. The signals are very reliable. I was a great experience of trading with this broker. I managed to make a profit of about 10 percent per month. I still have no problem with any of their transactions.

Gibbs Arnold

22.01.2022

Very light and fast output of funds. Excellent trading broker. Analytics and ratings at the highest level. So I registered here.

Fleming Charles

24.01.2022

I am glad that they became my trading broker. The signals are always accurate, and people always show professionalism. I have never had problems with the system, also with services. If you are looking for a broker with which you can comfortably trade, then you got into the right place. This broker provides a high level of brokerage services for Forex.

Owen Christopher

31.01.2022

I use the VIP account for several months, low commissions, no failures. chasecapitalonline Consultants In general, a very good broker.

Price Steven

05.02.2022

This broker is one of the two major brokers. I like diversification, so I never hold all my investments on one platform. The stability and reliability of their work is, perhaps, what I appreciate most. And, moreover, the cost is quite reasonable.

Shields Gerald

23.02.2022

Still the best! Low spreads, good contact with the support service and the absence of strange conflict situations with a broker. Even if unsuccessful tick happens, support always solves it in my favor.

Chambers Matthew

10.03.2022

very good broker, I have an active account since 2014. I recommend

Newman Matthew

13.03.2022

They are really honest and clear. I liked it very much :)

Adams James

25.03.2022

I regularly use this broker, they are not always the cheapest, but they are always quickly illuminated. While other brokers can take an hour, it will take a couple of minutes. Always excellent.

Wright Milton

03.04.2022

Trade since the 16th year, there have never been problems with the conclusion, the analyst at the level, stability at the level, there are no complaints, I advise you !!

Randall Robert

10.04.2022

For about a year I have been trading with chase capital online ... In general, everything that offers me suits me, and you will find something better! This is not possible with our state, it only looks where else to take something ... In short, whoever wants to work with an official dealer is better chase capital online yet, they really are trying to knock something out of the Bank of Russia, chase capital online I recommend it. Now they are also the only ones remained with ruble pairs.

Thomas Gervase